LONDON, 7 April 2026 - ICAP, part of the TP ICAP Group, a world leading provider of financial markets infrastructure and data solutions, today announced the launch of a new global Dry Forward Freight Agreement (FFA) Desk, expanding its freight derivatives capabilities and strengthening its offering to a broad, international client base.

The Dry FFA Desk has been established with a truly global footprint, reflecting the international breadth of ICAP’s client base. The team is situated across key freight trading hubs, with brokers located in London, Copenhagen, Dubai and Singapore, providing around the clock coverage for clients in Europe, the Middle East and Asia, including China and Hong Kong.

The desk will be led by Max Nijhawan, who brings deep experience in freight derivatives markets.

The desk serves a diverse, global client base, including ship owners and operators, miners, grain houses, investment banks, hedge funds and trading houses covering Capesize (C5TC, C5 and C3), Panamax (P5TC and P6), as well as Supramax and Handysize time charters.

ICAP’s Dry FFA Desk benefits from close collaboration with the firm’s established Dry Bulk physical desk, particularly in Denmark, enabling ICAP to deliver a more joined up service to counterparties active across both physical and derivatives markets.

Max Nijhawan, FFA Desk Head: 

“A key differentiator this desk will bring to the market is ICAP’s exceptional connectivity to the funds community, which has become an increasingly important participant in freight markets. ICAP’s credibility, reach and long standing relationships position us uniquely to support both traditional freight participants and a growing class of financial investors. Our focus, as we build a world-class team is to support the growth of the overall market rather than simply taking a share.”

Dry freight remains one of the most volatile markets globally, influenced by a wide range of factors including weather, geopolitics, conflict and shifts in trade flows. With approximately 80% of global trade transported by sea, the development of liquid and well functioning freight derivatives markets plays a critical role in enabling market participants to manage risk more effectively.

ENDS
 
About TP ICAP Group plc  
TP ICAP is a global leader in connecting buyers and sellers across financial, energy, and commodities markets. Leveraging our expertise and cutting-edge technology, we provide unparalleled OTC liquidity and data solutions. Our portfolio includes renowned brands such as ICAP, Tullett Prebon, PVM, Liquidnet, and Parameta Solutions. These brands deliver trusted broking services, comprehensive data & analytics, and insightful market intelligence to clients worldwide. With a presence in over 60 offices across 28 countries, TP ICAP is committed to driving market efficiency and innovation. 

Media Contact: 
Tom Gilbert | Director, External Communications, TP ICAP | +44 7741231950 | thomas.gilbert@tpicap.com

Please note that effective from March 20th 2026, ICAP EU OTF Rate Card has been updated with details regarding rate changes for SSA & Covered EUR Bonds. For more information, please visit website:

ICAP EU OTF Venue Page

Capitalized terms used in this Market Notice shall have the meaning ascribed to them In the ICAP EU OTF Rulebook.

Please direct any questions regarding this Market Notice to:

Email:
ICAP EU OTF

Postal address:

TP ICAP (Europe) S.A.,
42 rue Washington
75008 Paris
France

The rate card for the Tullett Prebon EU OTF has been updated and takes effect from 18 March 2026

Please note that the Emerging Market Bonds rate card for the TP UK OTF has been updated and takes effect from the 18th March 2026.

Please direct any questions regarding this Market Notice to:

Email: tpsotfoperator@tpicap.com

Post: TP ICAP Broking Limited, 135 Bishopsgate, London EC2M 3TP, United Kingdom

LONDON, 11th March 2026 - Parameta Solutions, the data and analytics division of TP ICAP Group, and Marex Group plc the diversified financial services platform, today announced the launch of a new joint netback pricing offering that combines proprietary oil and freight data to deliver a clearer view of energy market economics across crude, refined products and freight routes, connecting the price of oil with the cost of moving it.

The new solution brings together proprietary oil price benchmarks from ICAP, Tullett Prebon and PVM (TP ICAP Group companies) with Marex’s oil and freight market intelligence, enabling clients to assess real-time route economics, identify arbitrage opportunities, and better manage risk across physical and paper markets. By bringing commodity pricing and freight costs together in a single workflow, the offering helps market participants price the journey, not just the product, supporting more informed trading, risk management, and analytical decision-making.

This launch marks the first phase of a broader collaboration. Parameta Solutions’ data platform enables the cleansing, optimisation, and delivery of complex datasets at scale. Marex’s market data team provides clients with access to market data and associated services across energy and commodity markets. Marex delivers energy price discovery data and specialist market insights through its client portal, Neon, and via data feed delivery options, including real-time and end-of-day formats. The partnership supports the co-creation of new derived products, including future cross market pricing solutions that combine oil and freight data.

Silvina Aldeco-Martinez, Chief Executive Officer at Parameta Solutions: 

“This launch is about delivering total cost of trade for customers, connecting oil price signals and freight to help them evaluate real-time economics across routes and markets. By bringing these inputs together, we’re giving customers a clearer view of delivered route economics to support faster, confident decisions. It’s the first step in a broader roadmap of products we are building together with Marex.”

Richard Frape, Global Head of Market Data at Marex: 

“Market participants tell us they need connected data to solve connected problems. By partnering with Parameta Solutions, we’re expanding the reach of our data and enabling clients to access oil and freight insights within a single, high quality analytical framework. Together, we’re making it easier for market participants to understand price formation and act on cross-market opportunities.”

ENDS
 
About TP ICAP Group plc  
TP ICAP is a global leader in connecting buyers and sellers across financial, energy, and commodities markets. Leveraging our expertise and cutting-edge technology, we provide unparalleled OTC liquidity and data solutions. Our portfolio includes renowned brands such as ICAP, Tullett Prebon, PVM, Liquidnet, and Parameta Solutions. These brands deliver trusted broking services, comprehensive data & analytics, and insightful market intelligence to clients worldwide. With a presence in over 60 offices across 28 countries, TP ICAP is committed to driving market efficiency and innovation. 

Media Contact: 
Tom Gilbert | Director, External Communications, TP ICAP | +44 7741231950 | thomas.gilbert@tpicap.com